Property Market Information: Australia's hot spots

By the resi financial blog team, 07 January 2015

The property market was certainly a hot topic in 2014, but in reality the majority of the heat was felt in Sydney and Melbourne while other capitals experienced more moderate growth. This begs the question: What are the expectations for 2015? There will be capital gain, but it will slow down according to the Best of the Best for 2014 report by CoreLogic RP Data.

Although 2014 was a great year for property price growth, the peak of the cycle was reached in April, according to RP Data's Tim Lawless. The annual rate of capital gain sat at 11.5 per cent over the twelve months to April, with the rate of growth for the 2014 calendar year at a more reasonable 8.5 per cent.

Australia's most expensive real estate

According to report which came out in mid-December last year, the most expensive real estate in the country was predictably located in Sydney. The highest median value in the country for 2014 was Centennial Park, at almost $5.5 million. It's not all doom and gloom if you're considering your first home though.

Property in Fairymead in regional Queensland has a median price of around $70,000 and if you want to live within 10 km of a capital city, Clarendon Value in Hobart has a median value of almost $160,000.

The highest priced units are also in Sydney, with attached homes and apartments in Dawes Point fetching a median price of just over $2.5 million. The lowest median price for a unit is to be had in the Brisbane suburb of Inala, at almost $107,000. Within 10 kms of a capital city, Glenorchy in Hobart represents the best value at roughly $197,000, according to the CoreLogic RP Data report.